- China’s economic performance in Q4 2024 showed six highlights based on VAT invoice data from the State Taxation Administration
- Manufacturing sector accelerated with equipment manufacturing playing a strong supporting role, showing a 3.8% year-over-year increase in sales revenue
- Emerging industries continued to grow rapidly with high-tech industries achieving a 10.6% year-over-year increase in sales revenue
- Ecological and environmental services grew steadily with clean energy industries like solar and wind power seeing significant sales increases
- Equipment updates accelerated nationwide, driven by large-scale policies, boosting sales in consumer electronics and household appliances significantly
- Infrastructure investment rebounded with civil engineering construction showing a notable increase, especially in water conservancy projects
- Inter-provincial trade remained smooth with a 3.3% year-over-year increase in trade sales, supporting the construction of a unified national market
- The effective implementation of policies in Q4 2024 boosted business confidence and economic stability
Source: chinatax.gov.cn
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
